Of this, the Bharatmala project component will involve an outlay.11 lakh crore recapitalisation plan for state-run banks and massive road infrastructure investment of nearly Rs 7 lakh crore over five years.35 lakh crore will be raised through recapitalisation bonds and the remaining sum through budgetary support and market borrowings, Financial Services Secretary Rajiv Kumar told the media in the presence of Finance Minister Arun Jaitley and a battery of Ministry Secretaries.The days announcement of recapitalisation along with a booster dose of Rs 14 lakh crore expenditure will prove to be a mega turnaround point for the Indian economy which was tackling issues out of GST and demonetisation, said D.
Under the road connectivity programme, the government will construct 84,000-km highways in five years.Commenting on the development, State Bank of India Chairman Rajnish Kumar said in a statement: This milestone announcement on recapitalising banks in one go is a bold and courageous move and the need of the hour. The Cabinet decision to address a vital issue is very timely and welcome. We have conducted an analysis within the Ministry and held detailed consultations with the Prime Minister on the state of the economy. The unprecedented recapitalisation and the initiatives announced today (Tuesday) are expected to have a noticeable impact in the near term, contributing to accelerated economic activity, employment, and growth of the https://www.brighterbattery.com/ economy, he added. Its funding will be raised as debt from the market.You will recall the press conference last time, where I mentioned we will respond appropriately to the situation as it develops, he said.
The decision to invest in PSU (public sector undertaking) bank recapitalisation should result in increased lending, especially to the MSME (micro small and medium enterprises) sector, said Pankaj Patel, President, Ficci.These measures would surely set the stage for revival of private sector investment, he said. These funds will also help in efficiently managing risk and credit capital related requirements of the banks. Jaitley said the economic blueprint to revive growth being presented follows extensive recent discussions on the state of the Indian economy. The government, however, denied that this support to banks would affect fiscal consolidation.
Under the road connectivity programme, the government will construct 84,000-km highways in five years.Commenting on the development, State Bank of India Chairman Rajnish Kumar said in a statement: This milestone announcement on recapitalising banks in one go is a bold and courageous move and the need of the hour. The Cabinet decision to address a vital issue is very timely and welcome. We have conducted an analysis within the Ministry and held detailed consultations with the Prime Minister on the state of the economy. The unprecedented recapitalisation and the initiatives announced today (Tuesday) are expected to have a noticeable impact in the near term, contributing to accelerated economic activity, employment, and growth of the https://www.brighterbattery.com/ economy, he added. Its funding will be raised as debt from the market.You will recall the press conference last time, where I mentioned we will respond appropriately to the situation as it develops, he said.
The decision to invest in PSU (public sector undertaking) bank recapitalisation should result in increased lending, especially to the MSME (micro small and medium enterprises) sector, said Pankaj Patel, President, Ficci.These measures would surely set the stage for revival of private sector investment, he said. These funds will also help in efficiently managing risk and credit capital related requirements of the banks. Jaitley said the economic blueprint to revive growth being presented follows extensive recent discussions on the state of the Indian economy. The government, however, denied that this support to banks would affect fiscal consolidation.
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